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Barnwell Industries is an off-the-beaten path company and clearly thereâs risk here that management and the board do not perform and take a status quo approach. In such a small company, with so many different kinds of businesses as moving parts, thatâs a big concern. But, this is a great candidate for activism.
The company was founded in 1919 by Eugene Cornwell, a blacksmith from Cuyahoga Falls, Ohio. Cornwell is the only privately owned mobile tool distribution business in the U.S. Cornwell Tools are sold by local tool distributors who own a territory by means of a franchise.